REGISTERED CHARITY NUMBER: 1163166
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
for
BOREHAMWOOD BAPTIST CHURCH
Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
BOREHAMWOOD BAPTIST CHURCH
Contents of the Financial Statements for the Year Ended 31 March 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
BOREHAMWOOD BAPTIST CHURCH
Report of the Trustees
for the Year Ended 31 March 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a Charitable Incorporated Organisation.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1163166
Principal address
12 Furzehill Road Borehamwood WD6 2DF
Trustees
Miss Pamela Tume Treasurer Mrs Margaret Adegoke Ms Valerie Ringwood Mrs Colleen Sainlo Trustee Mrs Gillian Kett Trustee Mrs Nicky Barrass Trustee
Independent Examiner
Harvine Consultants Limited Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
Approved by order of the board of trustees on 19 April 2022 and signed on its behalf by:
Colleen Sainlo (Apr 21, 2022 22:50 GMT+1)
Mrs Colleen Sainlo - Trustee
Page 1
Independent Examiner's Report to the Trustees of BOREHAMWOOD BAPTIST CHURCH
Independent examiner's report to the trustees of BOREHAMWOOD BAPTIST CHURCH
I report to the charity trustees on my examination of the accounts of BOREHAMWOOD BAPTIST CHURCH (the Trust) for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Harvine Consultants
Harvine Consultants (Apr 21, 2022 23:34 GMT+1)
Harvine Consultants Limited Harvine Consultants Ltd Square Root Business Centre 102 - 116 Windmill Road Croydon Surrey CR0 2XQ
19 April 2022
Page 2
BOREHAMWOOD BAPTIST CHURCH
Statement of Financial Activities
for the Year Ended 31 March 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 60,634 Investment income 2 24,510 Total 85,144 EXPENDITURE ON Raising funds 3 7,089 Charitable activities Mission support 13,935 Church costs 40,399 Youth work - Other 6,046 Total 67,469 NET INCOME 17,675 Transfers between funds 9 4,498 Net movement in funds 22,173 RECONCILIATION OF FUNDS Total funds brought forward 25,123 TOTAL FUNDS CARRIED FORWARD 47,296 |
Restricted funds £ - 162 162 - - - - - - 162 - 162 52,002 52,164 |
Building Fund £ - - - - - - - - - - (4,498) (4,498) 46,806 42,308 |
31.3.22 Total funds £ 60,634 24,672 85,306 7,089 13,935 40,399 - 6,046 67,469 17,837 - 17,837 123,931 141,768 |
31.3.21 Total funds £ 57,636 17,592 |
|---|---|---|---|---|
| 75,228 12,206 9,588 23,460 164 2,032 |
||||
| 47,450 | ||||
| 27,778 - |
||||
| 27,778 96,153 |
||||
| 123,931 |
The notes form part of these financial statements
Page 3
BOREHAMWOOD BAPTIST CHURCH
Balance Sheet
31 March 2022
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 (14,556) CURRENT ASSETS Cash at bank 62,232 CREDITORS Amounts falling due within one year 7 (380) NET CURRENT ASSETS 61,852 TOTAL ASSETS LESS CURRENT LIABILITIES 47,296 NET ASSETS 47,296 FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - 52,164 - 52,164 52,164 52,164 |
Building Fund £ 54,422 1,178 (13,292) (12,114) 42,308 42,308 |
31.3.22 Total funds £ 39,866 115,574 (13,672) 101,902 141,768 141,768 47,296 94,472 141,768 |
31.3.21 Total funds £ 41,698 92,212 (9,979) 82,233 123,931 123,931 25,123 98,808 123,931 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 April 2022 and were signed on its behalf by:
Colleen Sainlo (Apr 21, 2022 22:50 GMT+1)
Mrs Colleen Sainlo - Trustee
The notes form part of these financial statements
Page 4
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements
for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Computer equipment - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 5
continued...
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
2. INVESTMENT INCOME
| 2. | INVESTMENT INCOME | ||
|---|---|---|---|
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Rents received | 24,510 | 17,211 | |
| Deposit account interest | 162 | 381 | |
| 24,672 | 17,592 | ||
| 3. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Telephone | - | 180 | |
| Utility services | 7,089 | 5,776 | |
| Travel | - | 360 | |
| Support costs | - | 5,880 | |
| 7,089 | 12,196 | ||
| 4. | TRUSTEES' REMUNERATION AND BENEFITS | ||
| 31.3.22 | 31.3.21 | ||
| £ | £ | ||
| Trustees' salaries | - | 3,591 |
The Minister is designated under charitable law as an office holder and is therefore entitled to receive a salary whilst also being a Trustee.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 48,321 - Investment income 17,211 - Total 65,532 - EXPENDITURE ON Raising funds 12,206 - Charitable activities Mission support 9,588 - Church costs 23,460 - Youth work 164 - Other 2,032 - |
Building Fund £ 9,315 381 9,696 - - - - - |
Total funds £ 57,636 17,592 |
|---|---|---|
| 75,228 12,206 9,588 23,460 164 2,032 |
Page 6
continued...
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
| 5. | COMPARATIVES FOR THE | STATEMENT | STATEMENT | OF FINANCIAL | ACTIVITIES - continued | ACTIVITIES - continued | ACTIVITIES - continued | |
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Building | Total | |||||
| fund | funds | Fund | funds | |||||
| £ | £ | £ | £ | |||||
| Total | 47,450 | - | - | 47,450 | ||||
| NET INCOME | 18,082 | - | 9,696 | 27,778 | ||||
| RECONCILIATION OF FUNDS | ||||||||
| Total funds brought forward | 7,041 | 52,002 | 37,110 | 96,153 | ||||
| TOTAL FUNDS CARRIED FORWARD | 25,123 | 52,002 | 46,806 | 123,931 | ||||
| 6. | TANGIBLE FIXED ASSETS | |||||||
| Improvements | Fixtures | |||||||
| Freehold | to | and | Computer | |||||
| property | property | fittings | equipment | Totals | ||||
| £ | £ | £ | £ | £ | ||||
| COST | ||||||||
| At 1 April 2021 | 19,320 | 17,175 | 79,011 | 976 | 116,482 | |||
| Additions | - | - | 4,498 | - | 4,498 | |||
| At 31 March 2022 | 19,320 | 17,175 | 83,509 | 976 | 120,980 | |||
| DEPRECIATION | ||||||||
| At 1 April 2021 | - | - | 73,808 | 976 | 74,784 | |||
| Charge for year | - | - | 6,330 | - | 6,330 | |||
| At 31 March 2022 | - | - | 80,138 | 976 | 81,114 | |||
| NET BOOK VALUE | ||||||||
| At 31 March 2022 | 19,320 | 17,175 | 3,371 | - | 39,866 | |||
| At 31 March 2021 | 19,320 | 17,175 | 5,203 | - | 41,698 |
continued...
Page 7
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.3.22 | 31.3.21 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts (see note 8) | 13,292 | 9,619 |
| Other creditors | 380 | 360 |
| 13,672 | 9,979 |
8. LOANS
An analysis of the maturity of loans is given below:
| Amounts falling due within one year on demand: Bank overdrafts 9. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Building Fund BWBC No 2 Account Baptist Union deposit account TOTAL FUNDS Net movement in funds, included in the above are a Unrestricted funds General fund Restricted funds Baptist Union deposit account TOTAL FUNDS |
At 1.4.21 £ 25,123 46,806 12,656 39,346 98,808 123,931 s follows: |
Net movement in funds £ 17,675 - - 162 162 17,837 Incoming resources £ 85,144 162 85,306 |
31.3.22 31.3.21 £ £ 13,292 9,619 Transfers between At funds 31.3.22 £ £ 4,498 47,296 (4,498) 42,308 - 12,656 - 39,508 (4,498) 94,472 - 141,768 Resources Movement expended in funds £ £ (67,469) 17,675 - 162 (67,469) 17,837 |
31.3.21 £ 9,619 At 31.3.22 £ 47,296 42,308 12,656 39,508 |
31.3.21 £ 9,619 At 31.3.22 £ 47,296 42,308 12,656 39,508 |
|---|---|---|---|---|---|
| 94,472 | |||||
| 141,768 | |||||
| 17,837 |
continued...
Page 8
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.20 £ Unrestricted funds General fund 7,041 Restricted funds Building Fund 37,110 BWBC No 2 Account 12,656 Baptist Union deposit account 39,346 89,112 TOTAL FUNDS 96,153 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 65,532 Restricted funds Building Fund 9,696 TOTAL FUNDS 75,228 A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.20 in funds £ £ Unrestricted funds General fund 7,041 35,757 Restricted funds Building Fund 37,110 9,696 BWBC No 2 Account 12,656 - Baptist Union deposit account 39,346 162 89,112 9,858 TOTAL FUNDS 96,153 45,615 |
Net movement At in funds 31.3.21 £ £ 18,082 25,123 9,696 46,806 - 12,656 - 39,346 9,696 98,808 27,778 123,931 Resources Movement expended in funds £ £ (47,450) 18,082 - 9,696 (47,450) 27,778 Transfers between At funds 31.3.22 £ £ 4,498 47,296 (4,498) 42,308 - 12,656 - 39,508 (4,498) 94,472 - 141,768 |
|---|---|
continued...
Page 9
BOREHAMWOOD BAPTIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 150,676 | (114,919) | 35,757 |
| Restricted funds | |||
| Building Fund | 9,696 | - | 9,696 |
| Baptist Union deposit account | 162 | - | 162 |
| 9,858 | - | 9,858 | |
| TOTAL FUNDS | 160,534 | (114,919) | 45,615 |
10. EMPLOYEE BENEFIT OBLIGATIONS
The church has an amount of £23,800 owed to the Baptist Pension Fund.
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page 10
BOREHAMWOOD BAPTIST CHURCH
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2022 | ||
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 29,334 | 29,121 |
| Donations | 2,000 | 9,315 |
| Gift aid | 11,300 | - |
| Manse rent | 18,000 | 19,200 |
| 60,634 | 57,636 | |
| Investment income | ||
| Rents received | 24,510 | 17,211 |
| Deposit account interest | 162 | 381 |
| 24,672 | 17,592 | |
| Total incoming resources | 85,306 | 75,228 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Telephone | - | 180 |
| Utility services | 7,089 | 5,776 |
| Travel | - | 360 |
| 7,089 | 6,316 | |
| Charitable activities | ||
| Missions & hospitality | 8,310 | 5,829 |
| Manse expenses | 3,037 | 3,759 |
| Church fabric expenses | 33,503 | 23,460 |
| Youth activities | - | 74 |
| Outreach | 16 | - |
| Children | 56 | - |
| 44,922 | 33,122 | |
| Other | ||
| Sundry expenses | 97 | - |
| Support costs | ||
| Management | ||
| Insurance | 1,864 | 1,797 |
| Subscriptions | 241 | 245 |
| Evangelical Alliance | 90 | 90 |
| Licence | 796 | 797 |
| 2,991 | 2,929 |
This page does not form part of the statutory financial statements
Page 11
BOREHAMWOOD BAPTIST CHURCH
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Management | ||
| Finance | ||
| Bank charges | 151 | 132 |
| Fixtures and fittings | 6,330 | - |
| 6,481 | 132 | |
| Governance costs | ||
| Trustees' salaries | - | 3,591 |
| Pensions | 3,976 | - |
| Ministers fund | - | 1,000 |
| Other ministry expenses | 1,533 | - |
| Accountancy | 380 | 360 |
| 5,889 | 4,951 | |
| Total resources expended | 67,469 | 47,450 |
| Net income | 17,837 | 27,778 |
This page does not form part of the statutory financial statements
Page 12
Annual Accounts March 2022
Final Audit Report
2022-04-21
Created: 2022-04-19 By: Harvine Consultants (harold.adjei@harvineconsultantsltd.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAV2SZetbI9CALrpReifelX-GC5IMGHiPV
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